Moody's Downgrades Whole Foods

Moody's Investor Service lowered the ratings of Whole Foods Market yesterday and said the chain's ratings remain on review for possible further downgrades.

Nov 11, 2008

NEW YORK — Moody's Investor Service here lowered the ratings of Whole Foods Market yesterday and said the chain's ratings remain on review for possible further downgrades. Yesterday's downgrade — from Ba3 to Ba2 — followed the company's announcement last week of lower earnings. On Friday, Standard & Poor's cut the chain's rating from BB to BB-, citing declining expectations on profitability and performance. Moody's said the review for further possible downgrade reflects its expectations t